Evercore ISI Has Lowered Expectations for Blackstone (NYSE:BX) Stock Price

Blackstone (NYSE:BX) had its price target dropped by analysts at Evercore ISI from $175.00 to $170.00 in a research report issued to clients and investors on Friday,MarketScreener reports. The brokerage presently has an “outperform” rating on the asset manager’s stock. Evercore ISI’s price objective suggests a potential upside of 19.42% from the company’s previous close.

Other research analysts also recently issued reports about the stock. JMP Securities reissued a “market outperform” rating and set a $195.00 target price on shares of Blackstone in a research report on Friday, October 24th. Barclays reduced their price objective on Blackstone from $171.00 to $164.00 and set an “equal weight” rating for the company in a report on Friday. Bank of America lowered their target price on Blackstone from $199.00 to $189.00 in a research note on Wednesday, December 10th. JPMorgan Chase & Co. decreased their price objective on Blackstone from $176.00 to $158.00 and set a “neutral” rating for the company in a report on Friday. Finally, BMO Capital Markets dropped their price objective on shares of Blackstone from $190.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, October 27th. Ten equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat, Blackstone presently has an average rating of “Hold” and a consensus target price of $176.86.

Blackstone Stock Down 0.4%

BX stock opened at $142.35 on Friday. The stock has a market cap of $105.12 billion, a P/E ratio of 36.69, a P/E/G ratio of 1.01 and a beta of 1.75. The company has a current ratio of 0.76, a quick ratio of 0.75 and a debt-to-equity ratio of 0.61. The stock’s fifty day simple moving average is $153.03 and its two-hundred day simple moving average is $160.81. Blackstone has a 1-year low of $115.66 and a 1-year high of $190.09.

Blackstone (NYSE:BX) last released its earnings results on Thursday, January 29th. The asset manager reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.21. Blackstone had a return on equity of 22.17% and a net margin of 20.89%.The company had revenue of $4.36 billion for the quarter, compared to analysts’ expectations of $3.69 billion. During the same period in the previous year, the business posted $1.69 EPS. The business’s revenue for the quarter was up 41.4% compared to the same quarter last year. Analysts expect that Blackstone will post 5.87 EPS for the current year.

Insider Activity

In related news, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of Blackstone stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $10.00, for a total transaction of $15,961,420.00. Following the completion of the sale, the insider owned 2,161 shares of the company’s stock, valued at approximately $21,610. This trade represents a 99.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ruth Porat purchased 324 shares of the stock in a transaction on Monday, November 10th. The stock was acquired at an average cost of $146.92 per share, for a total transaction of $47,602.08. Following the acquisition, the director owned 39,077 shares in the company, valued at approximately $5,741,192.84. This represents a 0.84% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders acquired 783,978 shares of company stock worth $22,058,454. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Blackstone

Hedge funds have recently bought and sold shares of the stock. Arcus Capital Partners LLC raised its position in shares of Blackstone by 1.2% during the 2nd quarter. Arcus Capital Partners LLC now owns 4,937 shares of the asset manager’s stock valued at $739,000 after buying an additional 58 shares in the last quarter. GHP Investment Advisors Inc. increased its stake in Blackstone by 3.5% in the second quarter. GHP Investment Advisors Inc. now owns 1,784 shares of the asset manager’s stock valued at $267,000 after acquiring an additional 61 shares during the last quarter. WNY Asset Management LLC lifted its stake in Blackstone by 1.7% during the second quarter. WNY Asset Management LLC now owns 3,852 shares of the asset manager’s stock worth $576,000 after purchasing an additional 64 shares during the last quarter. Redwood Financial Network Corp boosted its holdings in shares of Blackstone by 1.8% in the 2nd quarter. Redwood Financial Network Corp now owns 3,588 shares of the asset manager’s stock worth $537,000 after purchasing an additional 65 shares in the last quarter. Finally, Obermeyer Wealth Partners raised its holdings in shares of Blackstone by 2.3% during the 3rd quarter. Obermeyer Wealth Partners now owns 2,993 shares of the asset manager’s stock valued at $511,000 after buying an additional 66 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors.

Blackstone News Roundup

Here are the key news stories impacting Blackstone this week:

• Positive Sentiment: Q4 beat — Blackstone reported EPS of $1.75 and revenue of $4.36B, both topping estimates; record AUM and large inflows underpinned results and demonstrate momentum in deals, fees and infrastructure. Read More.
• Positive Sentiment: Dividend hike — BX declared a quarterly dividend of $1.49 (15.5% increase vs. prior quarter), implying a ~4.2% yield and signaling management confidence and stronger cash return to shareholders. (Company release)
• Positive Sentiment: Bullish analyst notes — TD Cowen reaffirmed a “buy” and set a $183 target; Citizens Jmp kept a “market outperform” with a $195 target, both signaling sizable upside from current levels. Read More.
• Neutral Sentiment: Management/sector commentary — Blackstone highlighted AI-related investment as a major economic driver and continues to signal interest in data-center and infrastructure opportunities, which is strategic but longer-term. Read More.
• Neutral Sentiment: Investor event scheduled — CFO Michael Chae will present at the BofA Financial Services Conference on Feb 10; investors should watch the webcast for additional color on capital deployment and fee trends. Read More.
• Negative Sentiment: Analyst target cuts to neutral — JPMorgan trimmed its target from $176 to $158 and moved to “neutral,” signaling less conviction on near-term upside. Read More.
• Negative Sentiment: Goldman trims target — Goldman cut its PT from $166 to $158 and maintained a “neutral” stance, adding to the pushback from some sell-side desks despite the beat. Read More.

Blackstone Company Profile

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.